In business-model innovation, cloud computing is imperative

Grazed from TechTarget. Author: Harvey Koeppel.

Innovation is no longer only about new or different products and services. As our world becomes increasing volatile, uncertain, complex and ambiguous, enterprises must adapt in different ways to enhance competitiveness — or even to maintain their existing market positions.

Increasingly, top-performing companies are focusing on business-model innovation — well beyond the scope of traditional product or service research and development — to drive their new strategies and operating models. Cloud computing is ideally positioned to become a significant catalyst of business model innovation, and CIOs and their IT staff need to be thinking about how to leverage cloud computing to increase the value of their IT investments and evolve their roles as value-added enablers of business outcomes…

Background on business model innovation

A 2010 survey conducted by IBM explored the current thinking and future plans of more than 1,500 CEOs representing 60 countries and 33 industries spanning the public and private sectors, as well as developed and growth economies. IBM reported that more than 90% of the CEOs surveyed indicated they were in the process of or planning to embark upon significant business model innovation programs in the next three years…

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